Orange County NC Website
Browse       Search
4 <br />RESOLUTION AUTHORIZING <br />THE ORANGE COUNTY FY 2007-2008 HOME PROGRAM DESIGN <br />AND FY 2004-2005; 2005-2006; AND 2006-2007 HOME PROGRAM_AMENDMENTS <br />BE IT RESOLVED, by the Orange County Board of Commissioners as a member of the Orange <br />County HOME Consortium approve the following activities for the 2007-2008 HOME Program. <br />Homebuyer Assistance <br />Funds would be allocated to the Orange Community Housing and Land Trust to assist first time <br />hornebuyers earning less than 80 percent of the area median income to purchase two single family homes <br />in Carrboro. Funds would be provided as a grant to the Land Trust. <br />(Requested amount: $140, 000) $140,000 <br />Funds would be allocated to Orange County Habitat for Humanity to provide deferred payment zero- <br />interest second mortgages on twelve homes throughout Orange County. Homes would be sold to <br />households earning between 30 percent and 80 percent of the area median income. <br />(Requested amount: $250, 000) $250,000 <br />Rental Assistance <br />Funds would be allocated for tenant based rental subsidies in support of the Orange-Person-Chatham <br />Mental Health Agency Homelessness Initiative to provide housing and support services to persons with <br />disabilities who are homeless. The rental subsidy program will be operated like the Section 8 Housing <br />Assistance Program and will be administered by the Orange County Housing and Community <br />Development Department. <br />(Requested amount: $354,240) $ 23,883* <br />*Total amount available with this allocation and prior year re-allocations is $207,910) <br />Operational Support <br />Funds would be allocated to Orange Community Housing and Land Trust as a Community Housing <br />Development Organization for administrative expenses. <br />(Requested amount: $30, 000) $ 30,000 <br />New Construction <br />Funds would be allocated to Orange Community Housing and Land Trust to support aloes-income <br />housing tax credit application in the Winmore development in Carrboro. Funds would be used to acquire <br />land for this project. The Orange Community Housing and Land Trust would have the option to purchase <br />the units at the end of the tax-credit qualifying period of sixteen years. <br />(Requested amount: $300, 000) $300,000 <br />Program Administration <br />TOTAL FY 2007-2008 HOME PROGRAM FUNDS <br />$ 66,122 <br />$810,005 <br />BE IT FURTHER RESOLVED, that the Orange County Board of Commissioners as a member <br />of the Orange County HOME Consortium approves the following amendment for Fiscal Years 2004, <br />2005, and 2006 due to changes in project plans. <br />1. The reallocation of $70,000 in FY 2004 funds to Orange Community Housing and Land <br />Trust for Second Mortgage Assistance in the Winmore subdivision to Homebuyer Assistance <br />in the Culbreth Park and Tandler subdivisions in Chapel Hill. <br />2. The reallocation of $70,000 in FY 2005 funds to Habitat for Humanity for New Construction <br />for Sunrise Ridge to New Construction for the Purefoy Drive subdivision. <br />3. The reallocation of $26,000 in FY 2005 funds to Weaver Community Housing Association <br />for rental assistance to a Tenant Based Rental Assistance Program in support of the OPC <br />Mental Health Agency Homelessness Initiative. <br />